The blockchain technology is rocking the financial market and our blog is here to bring another review to our readers. Today we are going to review a company called Medishares.
What is Medishares MDS?
Medishares MDS is the self appointed first mutual aid marketplace on blockchain in the whole world. What does this mean, though? Mutual aid contracts are a type of insurance. So, basically, Medishares will use the blockchain to create a marketplace for this type of business.
The Medishares platform is a decentralized platform which uses the Ethereum blockchain and ERC20 tokens to operate. It is also open sourced, so anybody can see and help in its code. All the transactions made on the Medishares platform are made via smart contracts.
This company was created by Eric Yu, a full stack developer and founder of XinChain.org. He has plenty of experience in this field. Other important personnel of the company are Sherry Gao, business director; Ge Long, insurance actuarial specialist and Grace Guo, a doctor. InfoCorps, Fenbushi Capital, Delphy and Genaro Network are some of the partners of the company.
How Does Medishares Work?
Medishares work via the Ethereum blockchain. Every transaction made on the platform is certified and made via smart contracts, which are a very secure way to be sure that both parties will automatically do their parts and ensure safety for both sides. Anyone on the platform can be a part of a mutual aid contract. Also, you can sell insurance templates and receive tokens via smart contracts.
The platform will be trustless, this means that you will not need to trust the other people because of the smart contracts. They also provide a scenario of very low operational costs, which reduce a lot how much is spent to run the company. Medishares includes incentive systems which can give tokens to people become insurers in Medishares.
There are many application scenarios for mutual aid contracts: like contracts for serious illness, enthusiastic divers and supercar owners. This ensures that there will be a great variety of contracts on the platform.
You can do all of this via the mobile app of the company, which will be compatible with both Android and iOS. The app will be released until the half of 2018 and the platform will be fully operational until the end of the year if everything goes according to the company’s plan.
How to Invest in Medishares?
Unfortunately, the Initial Coin Offering (ICO) of Medishares has already been finished, so you cannot buy Medishares tokens in it anymore. This means that if you want MDS tokens, you will have to go to an online exchange and pay the market prices. At the moment, you can find these tokens in four different exchanges: Huobi, OTCBTC, CEX.com and Gate.io.
The MediShares MDS ICO Verdict
Is Medishares a good investment for you right now? That is somewhat hard to say. While the idea of the company is actually pretty new, it can be hard to say if this will give a great return on investment or not and, because of this, hard to advise if you should invest on it unless you are specifically interested in using the services of the platform.
It looks like Medishares has the potential to be an interesting marketplace and, because of this, it might be a good idea to give it a deeper look and pay attention if you are already interested in this company’s services.
In any case, the choice is completely yours. Medishares is a very interesting company, but only you can say if it will be the right choice for you.